$2,349,000
FOR SALE

Multiplex

Bedrooms: 7+2Bathrooms: 5Lot: 17.5 x 120 ft

50a Lanark Avenue
Toronto (Humewood-Cedarvale), ON M6C 2B4

Newly constructed, custom 3-unit property with primary home (main house), legal basement suite and rear coach house. The primary home has 4-bedrooms, 4-bathrooms (50B Lanark main unit rented with multiple offers in May 2024 for $5,000/month). The 3-bedroom Rear coach house is leased for $3,200/month, and the 2-bedroom basement suite, which is accessible by a separate exterior entrance at the rear, is leased for $2,300/month. Approximated annual rent of $127,800 and net operating income of $116,410 (see financials attachment to this listing). The primary home has been left vacant to provide optionality to the buyer to decide whether to live in the main unit or rent it out. Because of the unique separation between the primary home and the basement suite/coach house, Buyers can choose to live in the primary home while earning substantial income from the basement and coach house. This property is not subject to Ontario rent increase limits as it is newly constructed, and rent prices can be increased annually to levels set by the Landlord. The primary home has a Main floor Powder Room and mud-room, Custom-built eat-in kitchen with floor to ceiling pantry for ample storage. Oversized Master Bedroom With tons of natural light, His and Her Custom millwork Closets, and master bedroom ensuite with a Free-Standing Tub, Double Vanity and an oversized glass shower. Large private Third floor balcony; inverted metal standing seam roof. The property is steps to shops on Eglinton, Cedarvale Park, Leo Baeck Day School and Eglinton Station/Crosstown. **** EXTRAS **** 3 Hydro meters, 2 gas meters. Custom window coverings and closet built-in in all bedrooms. (id:47421)
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Listed By RIGHT AT HOME REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number C10929883
Last Updated Jan 09, 2025
Property Summary
Property Type Multiplex

More like this:
Community Humewood-Cedarvale
Price History

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Detailed Information
Bedrooms 7+2
Bathrooms 5
Lot 17.5 x 120 ft
Features Lane, In-Law Suite
Listing Contract Date 2024-11-26
Location Description Oakwood Ave & Eglinton Ave W
# of Parking Spaces 1
Property Type Multi-family
Transaction Type For sale
Building
Amenities Separate Electricity Meters
Appliances Window Coverings
Basement Features Apartment in basement, Separate entrance
Basement Type N/A
Cooling Type Central air conditioning
Exterior Finish Brick Facing
Foundation Type Poured Concrete
# of Half Bathrooms 1
Heating Fuel Natural gas
Heating Type Forced air
Stories Total 3
Type Other
Utility Water Municipal water
Parking Spaces
Name Spaces
Detached Garage
Land
Total Size 17.5 x 120 FT ; ### INCLUDES REAR COACH HOUSE ###
Sewer Sanitary sewer
Size of Irregular Land 17.5 x 120 FT ; ### INCLUDES REAR COACH HOUSE ###

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